Optimum age replacement of a system subject to shocks with random lead time.
Shey-Huei SheuPublished in: Int. J. Syst. Sci. (1996)
Keyphrases
- lead time
- poisson process
- supply chain
- service level
- inventory systems
- cost reduction
- single item
- total cost
- independent and identically distributed
- assembly systems
- random variables
- inventory control
- stochastic lead times
- single product
- holding cost
- inventory level
- lot sizing
- lot size
- infinite horizon
- setup cost
- planning horizon
- stochastic demand
- single stage
- arrival rate
- periodic review
- utility function
- lower bound
- expected profit
- data mining